IZZI Software

What IZZI Software does

IZZI Software is a Minneapolis-based private software holding company, founded in late 2024 and wholly owned by Big Band Software, that acquires and grows founder-led software businesses serving the IBM Z (mainframe) and IBM i (Power Systems) ecosystems. The company targets profitable, founder-owned software firms with less than $10M in annual recurring revenue, then preserves and modernizes their products — its stated mission is to carry forward the legacy of independent IBM-ecosystem software companies facing succession risk.

IZZI's operating portfolio currently comprises two wholly-owned subsidiaries: ColeSoft (acquired 2024, headquartered in Charlottesville, VA), which develops the z/XDC interactive debugger for IBM Z — a tool with 40+ years of continuous development supporting Assembler, C/C++, and Metal C programs on z/OS, including cross-memory and live production debugging; and CNX Corporation (acquired July 2025, Chicago), which builds the Valence Framework and Nitro App Builder low-code platform for IBM i, recently extended in Valence 6.4 (April 2026) with AI features for conversational code generation, automated documentation, and a Data Chat Widget that processes data locally without external AI exposure.

The company generates revenue through subscription and annual maintenance agreements for licensed software sold to enterprise customers — primarily Fortune 500 firms, major global banks, and government agencies running mission-critical workloads on IBM Z and IBM i. Go-to-market is sales-led, combining direct enterprise engagement with a growing global reseller network (VIRTUTEM, ITSA, Vertali) and active participation in IBM community events (COMMON POWERUp, SHARE). The company is led by CEO Jennifer Nelson, a 25-year mainframe/Power veteran, and a board including operating partners from ParkerGale and prior executives from Rocket Software and SolarWinds.

Name

IZZI Software

Legal name

Izzi Software

Website

https://izzisoftware.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

IZZI Software is a Minneapolis-based private holding company that acquires and grows founder-led software businesses serving the IBM Z mainframe and IBM i Power Systems ecosystems, operating portfolio brands ColeSoft (z/XDC debugger) and CNX (Valence low-code platform) for Fortune 500 enterprises and global banks.

Ownership category

akta.pro rank

Product category

IBM Z and IBM i Development Software

NAICS

Software Publishers (513210), Custom Computer Programming Services (541511)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Application Maintenance & Support (AMS) (BPAEAFAC)

akta.pro secondary industries

Database/Application Data Layer Modernization (DB migration, ORM, caching) (BPAEAFAL), Enterprise Foundation Model Integration & APIs (Connectors, Governance, Deployment) (HDAAACAO), Software Engineering & Application Modernization (BPAHAEAD)

Keywords

• IBM mainframe software
• IBM i development tools
• Mainframe debugging
• Application modernization
• Low-code platform

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Software Licensing & Subscription: IZZI Software generates revenue through the licensing and subscription of its acquired software products (z/XDC, Valence/Nitro App Builder) to enterprise customers running IBM Z and IBM i platforms. Revenue is derived from annual maintenance agreements and software licenses, consistent with the B2B SaaS model of parent company Big Band Software targeting ARR $2M–$10M companies.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

IZZI Software acquires, modernizes, and grows founder-led software companies in the IBM Z (mainframe) and IBM i (midrange/Power) ecosystem, then sells their mission-critical development, debugging, and modernization tools to enterprise customers. Its portfolio includes the z/XDC interactive debugger for z/OS and the Valence Framework / Nitro App Builder low-code platform for modernizing IBM i applications with web-based UIs.

Differentiator

Problem solved

Functional benefit

Brands

• ColeSoft: Diagnostic tools for IBM Z mainframe engineers, including z/XDC debugger suite for Assembler, C/C++, and Metal C programs on z/OS.
• CNX Corporation

Products and services

• z/XDC (eXtended Debugger for Complex Systems) Flagship interactive debugging tool for IBM Z mainframe systems, supporting Assembler, C/C++, and Metal C programs in z/OS. Provides step-through debugging, cross-memory hooks, CDF session debugging, and integration with VS Code, enabling developers to debug live production systems without restarting applications. Targeted at IBM Z mainframe software engineers, application developers, capacity planners, and system programmers.
• Valence Framework / Nitro App Builder Comprehensive low-code development platform for IBM Power (IBM i) systems. Nitro App Builder allows developers to build and deploy modernized web-based applications on IBM i without requiring JavaScript or HTML5 expertise, treating IBM i programs as services rather than screens to deliver modern UI while preserving backend business logic. Targeted at IBM i operators and developers modernizing legacy 5250 terminal applications.
• ColeSoft Mainframe Diagnostic Tools Premier diagnostic tools suite for IBM Z mainframe software engineers, application developers, capacity planners, and system programmers. The ColeSoft product line (centered on z/XDC) helps streamline operations, reduce errors, and modernize the mainframe ecosystem. Targeted at enterprises running z/OS.

Quantifiable outcome

• Valence enables businesses to modernize IBM i applications significantly faster than traditional development approaches
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature4 records

Partnerships

Three partnerships are on record, tiered key.

• VIRTUTEMkeyChannel Partner/ Reseller/ Distributor · 12 January 2026Global reseller partnership announced January 12, 2026. VIRTUTEM sells IBM i products through IZZI's CNX subsidiary, bundling IZZI software platforms with its existing services to extend market reach for IBM i users seeking modernization solutions. Partnership extends IZZI's geographic and segment coverage in the IBM Power ecosystem.
• IT Service Alliance (ITSA)keyChannel Partner/ Reseller/ Distributor · 12 January 2026Global reseller partnership announced January 12, 2026. ITSA sells ColeSoft's IBM Z solutions as part of a bundled offering with its existing services. The partnership extends market reach for IBM Z users seeking modernization solutions and represents IZZI's expansion of the ColeSoft distribution network globally.
• VertalikeyChannel Partner/ Reseller/ Distributor · 13 May 2025Vertali, headquartered in the UK, signed a global reseller agreement in May 2025 for ColeSoft's z/XDC debugger product — ColeSoft's first-ever reseller agreement. z/XDC is bundled with technologies from leading mainframe technology companies to help Vertali's customers solve their biggest business and technical challenges. Vertali serves financial services, retail, utilities, and government sectors globally.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fresche Solutions: Fresche Solutions specializes in IBM i application modernization, legacy code analysis, and automated refactoring tools for RPG and COBOL applications. It competes directly with IZZI's Valence/Nitro App Builder for IBM i modernization budgets among enterprises seeking to retire green-screen interfaces.
• LANSA: LANSA provides low-code application development and modernization tools that integrate with IBM i. It competes with Valence on the low-code modernization proposition for enterprises running Power Systems.
• Rocket Software: Rocket Software is the largest independent vendor of IBM Z and IBM i software tools, offering modernization, DevOps, and connectivity products that directly overlap with IZZI's z/XDC debugger and Valence framework. IZZI's CEO Jennifer Nelson spent 15+ years at Rocket Software, and the two companies compete for the same enterprise mainframe customer base.
• ARCAD Software: ARCAD Software provides DevOps, source code management, and application modernization tools specifically for IBM i environments. Its overlap with Valence's modernization positioning makes it a relevant direct competitor for IBM i development shops.
• Profound Logic: Profound Logic offers a low-code platform (Profound UI) that modernizes IBM i green-screen applications into web and mobile interfaces. It is one of the closest direct competitors to IZZI's Valence/Nitro App Builder in the IBM i low-code modernization category.
• Heirloom Computing: Heirloom Computing modernizes mainframe COBOL and PL/I applications into Java services running on cloud or distributed platforms. It overlaps with IZZI's application modernization value proposition for enterprises seeking to retain mainframe business logic while evolving delivery platforms.

Broad incumbents

• OpenText (Micro Focus): OpenText (which acquired Micro Focus in 2023) sells mainframe modernization, development, and testing tools targeting IBM Z customers. It is a broad incumbent in the same enterprise customer set IZZI serves through ColeSoft.
• Fortra (HelpSystems): Fortra (formerly HelpSystems) provides a broad suite of IBM i and IBM Z management, security, and modernization tools including ROBOT Schedule, SEQUEL, and iSeries-based productivity products. It competes across multiple categories where IZZI's ColeSoft and CNX brands operate.
• BMC Software (Compuware): BMC acquired Compuware in 2020 and now offers a broad portfolio of mainframe DevOps, debugging, and application performance tools for IBM Z customers. BMC's Topaz suite overlaps with ColeSoft's z/XDC and competes for the same enterprise mainframe development budgets.
• Broadcom (CA Technologies): Broadcom acquired CA Technologies and now sells a broad portfolio of mainframe tools, including debugging, DevOps, and workload automation under its Mainframe Software division. It serves many of the same Fortune 500 mainframe customers as IZZI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/izzisoftware

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IZZI Software